Here's the best advice I've got

I've been getting some questions lately on various subjects relating to the MBA and London Business School and I've decided to put the answers into one big post so I can refer people to this. And just in case you're wondering, no, the boots on the left have nothing to do with this post, I just thought I'd keep you guys updated on the latest in London fashion (the pic was shot at the Igirisuya store on Hannover Square)!
[disclaimer: these are my personal views and I won't give you your money back if these don't work for you or if you disagree.]

Question: How do I best prepare for the GMAT? Do I need to take a course?
Answer: My best advice is to go out and buy the official Guide that the GMAC puts out (see the www.mba.com website for all the details), take a couple of their practice tests and see how well you score. By this time you should have an idea of the average GMAT scores and the ranges of your favourite schools. Anything under the lower boundary of the range is bad news, and indicates that you have to work hard to get it up. The practice scores will also tell you which area you need to focus on, math or verbal. In short:
* Don't fret too much about the GMAT, especially for LBS it is only one datapoint, not a fetish.
* Don't spend your money on a course before you do some self-assessment.
* Buy a number of different GMAT books if you decide you need to study some more, each book has a different focus. The Official Guide is good for practising actual past questions.
* Get familiarized with how the test works. Especially for most Europeans, we're not used to adaptive tests, so figure out how the test works, which will prevent you from being surprised when you actually sit down and do the GMAT.

Question: I've been admitted, how do I best prepare for my MBA?
Answer: my personal stance on this is that you'd do well to start studying a second language if you don't have one or if you're a bit rusty (that only goes for those MBAs that require you to graduate with a second language obviously). Other than that: you'll be studying for two years, so take it easy, visit family, hang out with friends, try and save up some money, go and travel if you can (yes, I know that contradicts the previous advice), maybe take some general management courses from something like an online provider or an Open University of extension program. Some of my classmates disagree and have done some prep.

Question: Is it true that the first term at London Business School is brutal?
Answer: YES. Everything is new, you meet 325 of your new best friends, you're in a lecture theatre for the first time in years, and you're doing homework for the first time in years. Stir into that mix the move to a different country (for most of us), finding a place to live, getting to grips with the UK and the way things are done here (especially banks and mobile phone companies have the power to drive a sane person over the edge). Add to that all the social events, club events, and speakers coming onto campus, sprinkle in a little peer pressure and a lot of groupwork, and yes, you've got a busy term. There is some good news for the 2008's: I've heard that they're shifting the core courses around a little bit to make the first term slightly more manageable. And it's not all bad, everyone always survives, so you will too.

Question: I've been waitlisted, what now?
Answer: Think carefully if you still want to go to that school. If the answer is yes, send your admissions committee contact a SHORT and SUCCINCT email indicating that you're still very interested. Try and attend every event the School puts on (receptions, Open Days etc), and politely make your interest known. It doesn't always help, but it shows you're interested. And then: sit tight and wait.

Question: I've been admitted to more than one MBA, how do I choose between them?
Answer: Come to London Business School!!! I'm kidding. Every MBA has its own merits, and the best way to make a decision is to try and figure out what you want out of an MBA, and then try and gather as much information about the schools you're interested in. Think about things such as 1 year vs 2 year programs, geography (US, Europe), reputation of the school, strengths of the school. The best thing I did was visit my top choices to figure out if I liked the place and the people. Try and talk to current students (in person or over email) and staff. Read widely on the internet (blogs, Business week forums (take those with a little grain of salt now and then though, some people are clearly nuts) are good places to start). Don't just rely on rankings or your great-aunt's favorite choice.

For now, this is all I can think off, if I remember more questions and answers, I'll post them.